Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- economic stimulus and child tax credit
economic stimulus and child tax credit
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Clark212
Level 1
05-23-2022
10:48 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
1 parent claimed child last year and got credits. this year other parent is claiming and software is giving credit for last year AND this year with no chargeback to other parent. is there a way to account for this?
Labels
2 Comments 2
Camp1040
Level 11
05-23-2022
10:54 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
If you are referencing the ACTC then the original claimant must be under the income threshold to payback the advanced payment. If you mean the RRC then it's just the way it is.
You need to clarify what is last year and what is this yea, tax year, calendar year?
qbteachmt
Level 15
05-23-2022
11:47 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
"software is giving credit for last year AND this year"
No software that is Annual, is giving Both Years.
It helps to separate the two types of provisions you are asking about, so that the specifics apply only to each condition. Also, there is a difference between getting "credits" and getting funds in advance, so make sure to include who got what and when and how much, for each type of provision. Thanks.
*******************************
Don't yell at us; we're volunteers
Don't yell at us; we're volunteers
